This week got off to a wild start, and Tuesday’s volatility from Fed Chair Jerome Powell’s commentary sent markets on a wild ride. While things have settled down a bit, there are still plenty of potential catalysts ahead this week. Many of those events center around central banker speaking engagements. In these cases, the interesting thing about penny stocks is that they tend to be less affected by broad market trends.
The fact remains that news can act as a direct catalyst no matter what the price of a stock is. This article looks at a handful of companies that have reported new updates and milestones that ignited interest in the stock market this week. We look into what’s going on, and what the updates are and see if any future events may be worth noting in the near term that may be of interest.
Penny Stocks To Watch
Creative Medical Technology Holdings Inc. (CELZ)
Biotechnology penny stocks have gotten plenty of attention in the stock market over the last few weeks. Since the beginning of the year, low-priced, highly speculative companies have been gaining momentum. Creative Medical Technology is the latest to hit the radar after releasing its latest update. Creative focuses on regenerative therapeutic platforms, including immunotherapy, urology, orthopedics, neurology, and endocrinology.
CELZ Stock News
This week CELZ stock spiked after announcing receipt of approval from the Institutional Review Board to move forward with its Clinical Trial for treating Type 1 Diabetes with its CELZ-201.
“The purpose of IRB review and approval is to assure that appropriate steps are taken to protect the rights and welfare of patients participating as subjects in the research and is an important milestone in proceeding with a clinical trial. We are pleased with achieving IRB approval expeditiously and look forward to moving forward with our Phase 1/2 clinical trial,” said CEO Timothy Warbington.
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Zhongchao Inc. (ZCMD)
Tech stocks have also gotten some renewed interest thanks to a surge of attention on artificial intelligence and things like ChatGPT. Zhongchao offers services to oncology patients. This year has been an active one for the company after reaching several significant milestones, including introducing anti-influenza drugs in China and launching medication management platforms to facilitate cancer treatment. However, this week’s update seems to have struck a chord with the market more than previous announcements have.
ZCMD Stock News
This week, Zhongchao announced the application of ChatGPT to enhance patient management service offerings and patient experiences. Weiguang Yang, Chairman, and Chief Executive Officer of Zhongchao, commented, “We believe that the Company’s application of ChatGPT to patient education and management will greatly enhance patient service experience and open up new avenues for growth in the patient-related business. Moving forward, we will continue to explore the full potential of ChatGPT and evaluate other emerging technologies to providing advanced solutions to enhance patient experience.”
Quantum Computing Inc. (QUBT)
As its name suggests, Quantum Computing focuses on offering applications and solutions leveraging quantum computing technology. This year, QUBT stock has performed well, moving from around $1.50 to as high as $3.49. The company has begun curating a technical advisory board as it begins product sales. Earlier this week, the company also announced the launch of a new subsidiary. The new business aims to deliver products for government and defense sector clients, which has played a role in the stock market today.
QUBT Stock News
This week Quantum announced a subcontract award supporting NASA to test quantum sensing solutions to monitor climate change. Sean Gabeler, President of QiSolutions, said, “This is a major step for QCI in demonstrating the application of its technology. QiSolutions was established specifically for this type of effort, and we are ready to execute to ensure success for this project.”
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GeoVax Inc. (GOVX)
Since the start of 2023, GeoVax has steadily climbed higher thanks to a mix of retail speculation and company updates. Its focus has been developing immunotherapies and vaccines to fight cancers and infectious diseases. Believe it or not, one of the most significant catalysts this quarter was related to a Zika vaccine patent. While COVID and RSV seem to have captivated headlines, the Zika patent news sparked a strong bullish signal to the market. But that isn’t why GOVX is in the spotlight right now.
GOVX Stock News
This week, GeoVax made several updates, including expanding its Gedeptin clinical research in advanced head and neck cancers. Its phase 1/2 trial is now active at Stanford, Emory, and Thomas Jefferson Universities. Immediately following the news, GeoVax reported that it made “significant progress” in developing a continuous avian cell line system for manufacturing its modified vaccinia Ankara (MVA)-based vaccines and immunotherapies.
Shares of NeuroSense have been in the spotlight for the last few weeks. Much of the focus came after the company reported final data on its Alzheimer’s biomarker study. Initial results from the study demonstrated that Alzheimer’s patients showed higher levels of specific proteins (TDP-43) and validated earlier finding, with the biomarker being found in 57% of patients. While shares of NRSN stock have dipped since the news came out, the market has maintained some attention on the company, and recent news reignited bullishness in the stock market today.
NRSN Stock News
NeuroSense announced that it received approval in Germany to enroll patients in a Phase 2b ALS trial. The trial studies its lead combination drug candidate PrimeC and topline results are anticipated later this year. Wednesday’s headlines also come shortly after NeuroSense announced approval to begin enrollment for its ALS trial in Canada.
List of Penny Stocks To Watch
- Creative Medical Technology Holdings Inc. (NASDAQ: CELZ)
- Zhongchao Inc. (NASDAQ: ZCMD)
- Quantum Computing Inc. (NASDAQ: QUBT)
- GeoVax Inc. (NASDAQ: GOVX)
- NeuroSense (NASDAQ: NRSN)